Lower mortgage rates unlock activityA modest rate shift from 7% to the “5-handle” could boost buying power by roughly 10%. In 2025, 52% of them intend to purchase a home, amounting to over 38 million prospective buyers — or about 20–25 million home-buying decisions, depending on household structure. She’s been renting for years, waiting for mortgage rates to dip below 6%. In the shorter term, the NAR projects existing-home sales will climb 7% to 12% in 2025, with mortgage rates averaging around 6%. Lower mortgage rates, lending surges, equity-rich owners, and potential federal action will unlock sidelined buyers.